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Business Segment Information
 9 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment Reporting
Business Segments – The Company designs and manufactures products and delivers services that bring technology and engineering together to provide innovative solutions for customers in a wide range of industrial, commercial and consumer markets around the world.
The Automation Solutions segment provides measurement, control, diagnostic capabilities and integrated manufacturing solutions for automated industrial processes, and serves oil and gas, refining, chemical, power generation, pharmaceutical, food and beverage, automotive and other end markets. The segment's major product offerings are described below.
•
Measurement & Analytical Instrumentation products measure the physical properties of liquids or gases in a process stream and communicate this information to a process control system, and analyze the chemical composition of process fluids and emissions to enhance quality and efficiency, as well as environmental compliance.
•
Valves, Actuators & Regulators consists of control, isolation and pressure relief valves which respond to commands from a control system to continuously and precisely modulate the flow of process fluids, valve actuators and controllers, and industrial and residential regulators that reduce the pressure of fluids moving from high-pressure supply lines into lower pressure systems.
•
Industrial Solutions provides fluid power and control mechanisms, electrical distribution equipment, and materials joining and precision cleaning products which are used in a variety of manufacturing operations to provide integrated manufacturing solutions to customers.
•
Process Control Systems & Solutions includes digital plant architecture that controls plant processes by communicating with and adjusting the "intelligent" plant devices described above to provide precision measurement, control, monitoring, asset optimization, and plant safety and reliability for plants that produce power, or process fluids or other items.
The Commercial & Residential Solutions business consists of the Climate Technologies and Tools & Home Products segments. This business provides products and solutions that promote energy efficiency, enhance household and commercial comfort, and protect food quality and sustainability through heating, air conditioning and refrigeration technology, as well as a broad range of tools and appliance solutions.
The Climate Technologies segment provides products and services for all areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. Products include compressors, temperature sensors and controls, thermostats, flow controls and remote monitoring technology and services that enable homeowners and businesses to better manage their heating, air conditioning and refrigeration systems for improved control and comfort, and lower energy costs.
The Tools & Home Products segment offers tools for professionals and homeowners, residential storage products and appliance solutions. Products include professional pipe-working tools, residential and commercial food waste disposers, wet-dry vacuums, and home shelving and closet organization systems.
Summarized information about the Company's results of operations by business segment follows (in millions):
 
Three Months Ended June 30,
 
Nine Months Ended June 30,
 
Sales
 
Earnings
 
Sales
 
Earnings
 
2016

 
2017

 
2016

 
2017

 
2016

 
2017

 
2016

 
2017

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Automation Solutions
$
2,176

 
2,440

 
354

 
378

 
6,532

 
6,524

 
1,037

 
1,032

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Climate Technologies
1,101

 
1,187

 
287

 
305

 
2,880

 
3,104

 
646

 
715

Tools & Home Products
400

 
415

 
97

 
97

 
1,186

 
1,210

 
274

 
281

Commercial & Residential Solutions
1,501

 
1,602

 
384

 
402

 
4,066

 
4,314

 
920

 
996

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Differences in accounting methods
 
 
 
 
47

 
38

 
 
 
 
 
138

 
106

Corporate and other
 
 
 
 
(83
)
 
(158
)
 
 
 
 
 
(314
)
 
(358
)
Eliminations/Interest
(3
)
 
(3
)
 
(46
)
 
(39
)
 
(8
)
 
(9
)
 
(139
)
 
(126
)
     Total
$
3,674

 
4,039

 
656

 
621

 
10,590

 
10,829

 
1,642

 
1,650


Corporate and other for 2017 includes first year acquisition accounting charges for valves & controls of $30 million related to inventory and $7 million for backlog amortization, as well as higher acquisition/divestiture costs of $13 million in the third quarter and $34 million year-to-date. Corporate and other for 2017 also includes higher incentive stock compensation of $8 million in third quarter, while incentive stock compensation was lower by $35 million year-to-date, reflecting the impact of changes in the Company's stock price, and 2016 included an $18 million gain on payments received related to dumping duties.

Automation Solutions sales by major product offering are summarized below (in millions):
 
Three Months Ended June 30,
 
 
Nine Months Ended June 30,
 
 
2016

 
 
2017

 
 
2016

 
 
2017

 
 
 
 
 
 
 
 
 
 
 
 
Measurement & Analytical Instrumentation
 
$
747

 
 
744

 
 
2,270

 
 
2,162

Valves, Actuators & Regulators
 
522

 
 
772

 
 
1,552

 
 
1,718

Industrial Solutions
 
403

 
 
430

 
 
1,186

 
 
1,216

Process Control Systems & Solutions
 
504

 
 
494

 
 
1,524

 
 
1,428

     Total
 
$
2,176

 
 
2,440

 
 
6,532

 
 
6,524